Shares in Edmonton-based CWB surged 70 per cent to more than $42 apiece on the Toronto Stock Exchange on Wednesday, one day after Montreal-headquartered National Bank announced it’s buying the lender for $5 billion. (The Logic)

Talking point: It’s the latest sign of consolidation in Canada’s financial sector, coming just months after RBC closed its $13.5-billion takeover of HSBC Canada—a deal that raised antitrust concerns. In a document outlining the proposed acquisition, National Bank said the CWB takeover would diversify its revenue base across more provinces, particularly in Alberta and B.C. where the bulk of CWB branches are located. It also said it would boost National Bank’s commercial lending potential.